Can You Really Make Money with MLM? Let’s Find Out!

Can You Really Make Money with MLM? Let’s Find Out!

Multi-Level Marketing MLM

Are you wondering if MLM is the right option for you? You're probably asking yourself if it will really put money in your pocket, or if it will take money out of your wallet.

In this post, we will give you the answers.

So let's get started.

What Exactly is MLM?

If you take a look at Wikipedia's definition for MLM (multi-level marketing), you will see this:

Multi-level marketing (MLM), also called pyramid selling, network marketing, and referral marketing, is a marketing strategy for the sale of products or services where the revenue of the MLM company is derived from a non-salaried workforce selling the company's products/services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system.

If you're like, what?, I don't blame you. Wikipedia tends to use language only university professors would understand.

So basically, MLM is just a way for companies to sell their products. They do this by getting people to join their business opportunity and showing them how to sell.

But that isn't what you wanna know, is it? You wanna know about the moneymaking part of MLM, right?

Alright...

How to Make Money with MLM

The process isn't that difficult to understand.

So here's the deal:

First off, there's a product. There's always a product. Sometimes, it's great. Sometimes, it's not. And sometimes, it could virtually be nothing. Some MLMs make up fake products just so they make money from the referral side of the business.

Anyways...

Step #1: Find a Sponsor

When it comes to the MLM compensation plan, it works in a constant upside down V. Meaning, with every person that joins the program, they go under the person who referred them. This is called a downline.

That means, in order to join, you too would need to go under someone. But if you don't have one, some programs will give you one.

Step #2: Find Referrals and Sell Products

Now that you're joined up, it would be time to sell products and build your downline. You could do this in many ways. Online, through your website or social media. Or offline, through word of mouth.

Step #3: Teach Them

Next, show them how to sell the products and get people in their downline.

This is the tough part. This is where everybody has trouble.

But if you can do it, you can...

Step #4: Make Money

It sounds easy enough, right? I mean, I get why MLM is so attractive to a lot of people. Essentially, all you would need is to find people who are interested in making money, get them to join the program, and then show them how to get others to do the same thing.

Why We Don't Recommend MLM

There are 2 reasons why we don't recommend MLM to anyone here at iwannamakemoney.com.

First off, it's so easy to fall into a scam. Some people, especially if their mindsets are on get-rich-quick schemes, fall into one after another. The commissions you would get from getting people into your downline and then getting them to do the same would be good money. That's why it's so attractive.

The other reason is it's very difficult to do when you have zero marketing experience. If you wanna get referrals for your downline, you would have to work hard. Especially if you don't have a website or mailing list.

That means you would have to DM people on social media, spam your links on your feeds, go door to door to tell people about the opportunity, and even host some sort of presentation. 

Getting real people to pull out their wallets for an MLM business opportunity is not an easy thing to do.

Here's What We Recommend...

There's this thing where you can make earn money promoting other people's products without worrying about downlines, uplines, or anything like that.

You get paid a certain percentage on every sale you make. It could be 10%, 25%, 50%, or sometimes even more. So if a product is $100 with a 25% commission rate, you get $25. And sometimes, you'll find products with recurring rates. You'll mostly see these in memberships and subscription-type products.

So what is this called? Affiliate marketing.

You could do this in many ways, but we recommend a certain method here. Check it out:

  • Target a certain group of people (ex: video gamers on console).
  • Find high quality products you could promote.
  • Build an audience.
  • Promote the product.

I know it sounds simple and easy enough. But no. Nothing is easy about making a living online.

However, out of all the quality methods, it has been deemed one of the easier ones to accomplish. Mainly because you wouldn't have to deal with product creation, shipping orders, or anything of that stuff.

Now...

The question is...how do you this this? Build your own website.

With a website, you could create content and build your audience from the traffic that comes through. You could even promote products to first-time visitors through product reviews.

But to do all this, you will need to learn how. So here's what I'd recommend:

There's this site called Wealthy Affiliate that provides you with training, websites, a supportive social-media-like community, and everything else you will need to build your first profitable website.

It's actually where I learned how to create my first, too. It's a great program. Friendly people. Easy to follow training, Awesome resources.

And...

You can get in for free by clicking the button below. You'll be given a 7-day free trial. No credit card or anything. It's pretty cool.


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About the Author Julian Sakanee

Julian has been in the online game for over 2 years. He’s built many blogs, most of which were fails. This is not one of those fails. I Wanna Make Money is where he helps newbies earn money. So if you fall into that category, we highly recommend you stick around and join our mailing list.

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